Is XRP Ready to Skyrocket? Bitwise CIO Reveals Why XRP’s Full Potential is Still Untapped

The post Is XRP Ready to Skyrocket? Bitwise CIO Reveals Why XRP’s Full Potential is Still Untapped appeared first on Coinpedia Fintech News

XRP has been grabbing attention lately, and Bitwise Asset Management is all in. The company recently filed to launch an XRP spot ETF, showing a lot of confidence in the coin’s future. With Ripple’s long-running legal battle with the SEC coming to an end, Bitwise’s Chief Investment Officer (CIO), Matt Hougan, shared some exciting thoughts on what’s next for XRP.

XRP ETF Could Be the Next Big Thing

In a recent interview on the Thinking Crypto Podcast, Matt Hougan, the CIO of Bitwise, opened up about why his company is so optimistic about XRP ETF, despite the ongoing legal battle with the SEC. 

According to Hougan, XRP has already proven itself with a dedicated community and innovative technology. One of the key aspects Hougan highlights is the XRP Ledger (XRPL), which powers the cryptocurrency and shows its strength and technological edge.

However, he pointed out that XRP’s true potential hasn’t been fully realized yet, largely because of the uncertainty surrounding the lawsuit with the SEC. 

He compared Ripple’s situation to “operating with two hands tied behind your back.” Despite these challenges, Hougan is confident that once the lawsuit is resolved, XRP could soar. 

Financial Institutions Eyeing XRP ETF

The company has filed to launch an XRP ETF, and Hougan believes that if regulations improve, this could be the next big crypto breakthrough

Hougan also mentioned that traditional financial institutions, like Société Générale, are starting to use XRP’s technology. This shows that even big players in finance are starting to recognize its potential.

With more and more institutions eyeing XRP, Hougan asked the million-dollar question, So, what could happen if XRP is finally free from these legal struggles? It could change everything.

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XRP Price Analysis 

XRP is already showing strong momentum, recently breaking past key price resistance levels and climbing above $1.25, with its market cap now reaching $65 million.

Meanwhile, Crypto analyst Charting Guy sees potential for a major price surge, suggesting that XRP could replicate its explosive 2017 bull run. 

The analyst noted that XRP’s monthly Bollinger bands are finally expanding, signaling a pattern reminiscent of 2017. That year, XRP surged by over 61,000%, eventually reaching its all-time high the following year.